It has been announced that the GDP of the country has reached US$ 10,000, although it would be quite hard to say this growth in wealth has reflected to average citizen trying to take home a loaf of bread every evening.
Still above mentioned achievement has been a factor for Turkish citizens to try to pull up their life standards to a more comfortable level, together with other motivating factors such as relocating to a higher social level (like with black people who were once best customers of luxury cars such as Cadillac).
Automotive industry with an investment of over 10 billion liras and over 100,000 employees is the heart of the Turkish economy.
Based on a recent study conducted by OYDER (Association of Automotive Authorized Dealers) about the profile of automotive customers in Turkey, it has been observed that the two most important factors that triggered sales of new cars on the macro level in the first six months of 2011 were the convenience of prices and advantages offered by credit facilities.
This study together with above mentioned points provides professionals with very important basic data that would help design marketing strategies in concerned sector.
In this regard, companies wishing to achieve success and grab a bigger share of the market will need to consider following:
- The rate of the customers to buy their first car in the first 6 months was 30 percent.
- The rate of customers who used a combined finance means of bank loan/cash, 50 percent each reached 50 percent.
- The price of the vehicle was among the most powerful factors to influence decisions by 20 percent.
- Fuel consumption and design were 3r and 4th most important points to infleunce buying decision.
- Features such as environmental advantages were not obviously considered very important as the figure to correspond to this group did not suppass 3 percent.
- About 60 percent of buyers were oriented by recommendation.
- Newspapers were found to be most influential by 25 percent among all media alternatives.
- White was the most preferred color by 40 percent and black on the contrary was preferred by 30 percent of buyers.
- 2 out of every 10 buyers were women
- The largest buying group was aged between 36-50 by 45 percent
- 4 out of every 10 buyers were clerks, civil servants and 2 were business owners.
The Turkish automotive market is growing to be giant and companies determined to grab a bigger share should definitely keep a good eye on customer preferences. RENAULT for instance has achieved great success by getting market leadership in many categories whereas this brand did no better than trying to follow the leader until a short while ago, only.
However, due to the very strong image they managed to create in the market having to do with consistency, innovation, respect for the customer and abundancy of new models this company took a giant step to grab number one position in Turkey. Renault experience should be a good bench-marking example for any automotive company to compete in this market.
Editor
BUSINESS TURKEY TODAY
